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LOS ANGELES, March 03, 2021 (GLOBE NEWSWIRE) — The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Apache Corporation (“Apache” or “the Company”) (NASDAQ:APA) investors that acquired securities between September 7, 2016 and March 13, 2020.
It is alleged in the complaint that throughout the Class Period Apache made misleading and/or false statements and/or failed to disclose that: (1) Apache intentionally used assumptions that were unrealistic in regard to the composition and amount of available gas and oil in Alpine High; (2) Apache did not have the proper infrastructure in place to economically and/or safely drill and/or transport those resources even if they existed in the amounts purported; (3) these misleading statements and omissions inflated the value of Apache’s operations in the Permian Basin artificially; and (4) as a result, Apache’s public statements were materially misleading and false at all relevant times. The lawsuit claims that investors suffered damages when the true details entered the market.
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The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
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